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Meeting the challenge will be no easy task. Developing innovative drugs, devices, and diagnostics is becoming more difficult and costly. Furthermore, as medicine becomes more targeted, the discovery of blockbuster products will be less frequent and many life sciences companies will look to expand their product portfolios.

 

Seeking ways to increase innovation capacity and reduce development time and cost, life sciences firms are turning to emerging markets as a source of research, development, and production capabilities. At the same time, emerging market countries are striving to become significant players in world trade. Additionally, the rise of health care needs in emerging markets, coupled with rising income levels, present new opportunities for consumer growth in emerging markets. Given the importance of innovation in meeting the growing health care needs of populations throughout the world, how can innovation be promoted and protected within and for emerging markets?

 

This new Deloitte Research Life Sciences Brief addresses innovation opportunities and challenges in emerging markets. A broad framework involving the three elements of development, ownership, and diffusion is proposed for considering the many components and conditions that are necessary for innovation. The paper also examines tradeoffs among these elements and identifies possible levers for action that could be taken to strengthen the promotion and protection of innovation both within and for emerging markets.

 

The results of this research were presented by Bob Go, Global Managing Director of Deloitte’s Life Sciences & Health Care industry group, at the Healthcare Governors' meeting, which took place on January 24, 2008, during the World Economic Forum’s 2008 Annual Meeting in Davos, Switzerland. This paper was prepared as part of an ongoing research program between Deloitte and the World Economic Forum.

 

Learn more about Deloitte's participation at WEF Annual Meeting.